There is nothing more gratifying than having your own business. Nowadays, launching an eCommerce business is extremely easy, turning many people’s dreams of being a business owner into reality.
The first step to becoming an entrepreneur is knowing the product you want to sell and then who you want to sell it to. If you have decided on a particular niche, then it’s good, but if not, then that’s fine too. There are many industries in which you can operate. The number of online shoppers is rising at a rapid pace. New businesses can launch and succeed quickly.
If you are confused about which business type you wish to start, here are 12 eCommerce ideas that have very high-profit potential.
12 Profitable eCommerce Ideas For Entrepreneurs
Here is a list of some successful ideas for business.
1. Fashion Products
Fashion remains a highly competitive industry. The unique thing about it is that that there are many niches and personal styles in the fray at present. You can quickly get into one of them and start your own clothing line.
In the year 2019, the global sales of apparel and footwear were a whopping 1.9 trillion dollars in the US itself. Even if you can grab a small portion of that market, you can make a decent profit.
When we talk of fashion, there are many business models you could choose from. You can start a t-shirt business or hand sew the clothes. Apart from that, you could outsource the production by using on-demand print services. You may sell the garments by sourcing them from fair trade manufacturers, reselling vintage clothes, or mass producing niche fashion items like patches that customers can sew on dresses and backpacks.
In case you have a creative streak or want to attempt something quirky, the fashion business is the best bet.
2. Jewelry Products
Thanks to social media, jewelry remains a fast-growing industry. At present, this industry is around $229.3 billion in the US. The online jewelry industry forms a sizeable chunk of the same.
So if you think you have the eye to create some unique pieces, you can think of this as a business option.
There are many niches that you can pursue while choosing a jewelry business. You could create fine pieces like diamond engagement rings or beautiful costume pieces that make your customers look sophisticated. Maybe, you could source the fashion jewelry that is similar to the one being displayed on ramps or dropship pieces from international suppliers.
Remember to use clear and attractive images and videos to flaunt the pieces and get the necessary effect. Categorize the collections and add filters so your customer can sort out what exactly they want to buy. A lot of jewelers use omnichannel sales in order to reach more people.
3. Electronics And Smart Devices
Smart devices and electronic devices are becoming very popular because they make our lives quite convenient. Nowadays, everyone wants some smart device in their life. Whether it is a doorbell camera or Wi-Fi-controlled thermostats, people are embracing the smart living concept. It is projected that by 2027 the smart device industry will reach $79 billion.
To start a smart device or electronics business, you need to have something different to offer. You should try to sell a product that no one has offered before. Suppose you have the technical know-how to design and create your own product that will be good. But even if you are lacking in that, many experienced workers can help you out.
In case you do not want to create your own product, then you could outsource a range of electronics from all around the world. Or, you could think of selling refurbished items. Before starting your electronics and intelligent device store, go on social media and find the key target audience and tell them what your product does.
During the pandemic, all customers looked up to eCommerce for providing stuff, including groceries. As they understood the convenience of grocery shopping online, they also turned to the many eCommerce grocery stores available.
When you decide to sell groceries online, it is essential that you figure out the niche that will make your store unique. This is what is crucial so that the customers purchase food online instead of the local store. It is easy to source and curates a range of items that will fit within a particular niche and have a unique selling proposition as well.
Potential niches include:
- Dairy-free, sugar-free, gluten-free, etc.
- Vegan or Vegetarian
- Locally harvested
- “Hand-batch made” (even if you have not made it)
- Sustainable, organic, or fair trade
- Items like unique jams, handcrafted chocolates, or infused oils.
- Favors for weddings like smores, sourcing candy, or cookies
It can be highly beneficial to create your own products from the beginning. But this process could take a lot of time if you start from the beginning stage like product development, manufacturing, branding, and labeling.
Dropshipping could be another option where you build an inventory of curated goods. But if the suppliers are overseas, that would delay the delivery time.
5. Beauty Products
The beauty industry has been showing an extensive makeover in the last few years. Nowadays, many niche markets have gained the support and attention that they deserve.
You could think of products for people of different races, organic beauty items for people having sensitive skin, or eco-friendly beauty products for people who are worried about the carbon footprint.
In case you are planning to start your makeup line, you will have to create something distinct. Even if you do not choose a unique niche, remember the quality of your product could impress consumers in an overcrowded market. Focus on what the customers are looking for: easy to apply, long-lasting and beautiful colors, and ingredients that impress. Get all three right, and you are good to go.
6. Baby And Children’s Products
Parents are these days ready to spend enough money on their kids. Thus selling kids toys, clothing, or any other items can be profit-making. There are a lot of niches in the market, thus giving you enough scope to prosper in this market.
Some parents look for affordable stuff as kids outgrow the stuff bought for them. On the other hand, others would pay extra for sustainable items, or heirloom quality, or choose one that is made for a special occasion.
Maybe, you have a product idea that will improve the health of the babies.
In the case of parents, word of mouth remains a powerful marketing tool. Share customer reviews and provide the proof across the digital channels so that your brand gains popularity.
Whichever route you take, you must build a website that makes it easy for busy parents to navigate around. Also, market your product to the right audience so that your products reach the rightful place.
7. Educational Materials And Courses
After COVID-19, the potential of home-based learning has increased. That is the reason why educational materials remain very highly demanded and online courses are also booming. Whether it is the parents who want homeschooling aids, books, etc., or the educators who want schooling books in science or Maths, you can make a dent in any of the markets. Be creative and apply a unique approach. You could delve into kits teaching the kids about astronomy or cooking or any foreign language.
You may get an additional income by dropshipping or selling items like coloring books, physical books, or the student’s kits, which offer curated supplies.
Online education is not limited to kids only. Because of the pandemic, even adults are taking hobbies, languages, and other interests. Certain digital products like education apps and downloadable books are easy to sell and very popular. Educational businesses are usually successful because of the skills that improve people’s lives. Therefore, developing a clear mission statement of the company is a great idea.
Pet owners, too, want to splurge enough on their pets. That is why the pet care industry was zooming at $99 billion in the year 2020. Find a pet goods niche that you could break into and create products that will be accepted. Some of the eCommerce pet brands are widely accepted, and that shows how far people can go to give their pets artfully designed treats, toys, comfy beds, etc.
You could also take a practical path and source toys like supportive beds, tough chewers, and joint supplements for dogs who have hip dysplasia. If nothing works, take a playful approach and create beautiful kennels or decorated jackets that add some style to the pets.
You can either design or create a totally new product to solve the problems the pet owners are facing. Or, you could become a cook and make delicious pet treats. Think of an untapped niche and work on that.
9. Subscription Box Businesses
In case you have got an innovative product, and people would want to purchase it again, you can try to build up a subscription-based business. Subscriptions benefit both the consumer and the company. Not to forget that they prove to be the best gifts.
At present, there are subscription boxes for almost all products like clothes, pet toys, chocolates, coffee, educational toys, make-up, meals, puzzles, etc.
10. Affiliate Marketing
Another eCommerce business idea that can be started with a very small budget is affiliate marketing. In case you have a considerable online presence and you command authority over a particular niche, this could be the perfect way to increase your income. Affiliate marketing is when an individual represents a company. You can sign up for affiliate programs with brands that match your target audiences’ interests. For example, if you are a fashion blogger, you could work with retail brands and promote their clothing through your blog content. Or, you could share their dresses or shoes on your social media platform and mention links to products to get the customer to buy the product.
Affiliate marketers put special links and codes in their content so that they can track how many clicks and conversions they are providing the brand. The content creator then gets a commission from the brand. You must work only with companies that match your target audience. Otherwise, you will lose your credibility. For example, if a fashion blogger continues asking their followers to check out financial software or gym equipment, she might lose them. But the same products could be perfect for other content writers. If you have already set up a successful website, then choosing affiliate marketing is the next step you need to take.
11. Travel Services
Everyone wants to take a break from their hectic life. As per Deloitte, 2009 to 2017 saw US hotel bookings rise from $116 billion to $185 billion. The Airline revenue in this period also jumped from $155 billion to $222 billion. This is the perfect time to establish a travel business. You could help the customers in planning trips, write travel guides for them or sell travel accessories like luggage. Apart from that, even travel companies offer affiliate programs. Tie up with Airbnb, booking.com, Skyscanner, and Trip advisor to get some revenue through their affiliate program.
12. Tech Products
In today’s time, Tech products have widespread popularity. Everyone carries a smartphone, computer, smartwatch, and other products. People use these products for multiple jobs like fitness, work-related tasks, planning, and entertainment. Tech websites are also very popular. This is an idea that you could start your career with. You could sell tech accessories or smart home products online. The variety that you get in technological products is wide. This includes products like AR/VR Headsets and accessories, smartwatches, dashcams, video cam, video doorbells, fitness bands, etc. The sale of all these products is increasing every day and will continue to grow.
FAQs On Ecommerce Business Ideas
Q: How To Start An eCommerce Business?
An eCommerce business starts with figuring out your niche and then doing the research needed for that business. Steps to create an eCommerce business are:
- Research the industry and figure out your niche
- Choose a name for your business and decide on the legal structure
- Apply for the Employer Identification Number or EIN
- Get valid permits and business licenses
- Select the eCommerce platform and create your website as per your needs
- Develop your products and the website
- Market your eCommerce business
Q: How To Build An Online Store?
Building an online shop is pretty easy in today’s time. You just need a domain name, website hosting, and any eCommerce website builder. If you do not have any design and coding skills, you could set up an online shop within minutes.
This is because of the website builders, and there are many of them now. Most of the popular website builders do not need a coding or website building experience from your side. But they definitely tend to cost a reasonable sum.
You could also design an online shop with zero investment using WordPress, or, you can use a plugin from WooCommerce to tackle the eCommerce aspect. This is a great and cost-effective solution as compared to other website builders that are pretty expensive.
Q. How To Select The Best Website Platform?
The choice of the website platform will depend on the budget and needs of your business. Most website platforms are different in costs, design, and functionalities they offer. If you think that massive traffic will come your way, then WordPress and WooCommerce will be best. Apart from these, Shopify, Prestashop, etc., are suitable for those having a fashion and health-related business. Analyze the budget, finances, and future opportunities of your business to make the right call.
Q. Is A Mobile App Essential For Starting An Ecommerce Business?
Online business marketing tactics have changed in the last decade. A mobile app helps to enhance the customer’s experience and satisfaction levels. Such Apps keep sending notifications and offers to those customers that bring in sales. This increases the possibility of them making a purchase again with you and increases their satisfaction with the product.
Q. What Skills Do You Need To Start Your Ecommerce Business?
Skills that you need to create the best eCommerce plan are as follows:
- Email Marketing
- Content Writing and Marketing
- Data Analytics
- Testing and Data Collection
- Graphic Designing
- Web Development
- Market Automation
Q. What Are The Six Prominent Types Of Ecommerce?
6 standard types of eCommerce are as mentioned below:
- C2A- Consumer-to-Administration
- B2B- Business-to-Business
- B2A- Business-to-Administration
- C2B- Consumer-to-Business
- B2C- Business-to-Consumer
- C2C- Consumer-to-Consumer
These days there are many eCommerce ideas that you can experiment with. Some of them are worth the effort, and some need to be ignored. You should do proper research, before choosing the one that you think you can excel in. You can check Ecommerce podcasts to get some ideas and inspirational stories.
It is evident that the market has changed. Now you can sell many things starting from health and beauty to toys for children. If you are able to open an online store at this time, you are going to get massive returns.